What does 'Strategic Management' mean?

Strategic management is a fundamental aspect of any successful business, and it involves the process of planning, monitoring, and analyzing a company's goals and objectives. It refers to the overall direction and management of a company's resources to achieve its long-term goals and maintain a competitive edge in the market. One of the key features of strategic management is the development of a clear and well-defined strategy that outlines the company's vision, mission, and short and long-term objectives. This strategy serves as a roadmap